Ministry of Economy discussed potential of attracting highly  qualified labor from India

ArmInfo.  The Ministry of Economy of Armenia has discussed the potential of attracting highly qualified labor from India. As ArmInfo was informed by the press service of the department, a meeting was held at the Ministry,  chaired by Deputy Minister Edgar Zakaryan. In attendance were Deputy  Minister of Labor and Social Affairs Ruben Sargsyan, members of the  Indian organization NSDC (National Skill Development Corporation)  International Limited, as well as representatives of Armenian  business organizations and unions.

The Indian side presented the activities of NSDC, highlighting the  potential for employing skilled labor in other countries, as well as  the challenges that may arise in the process and possible solutions.   The interlocutors emphasized the importance of bilateral cooperation  and recognized the necessity of developing a policy to attract  foreign labor.

Let us recall that at the beginning of 2024, Armen Nurbekyan, the  Deputy Chairman of the Central Bank of Armenia, reported that  approximately 16,000 labor migrants from India had arrived in Armenia  since January 2023. Indian citizens primarily seek employment in the  service sector (delivery, taxi) and construction in our country. It  is worth noting that the statistics for the most recent reporting  period (January-September 2024) do not specify the number of Indian  citizens who have registered in Armenia.

Meanwhile, it should be noted that on average, over 300,000 people  leave Armenia for Russia annually in search of employment.  According  to the Statistical Committee of the Republic of Armenia, the  unemployment rate in Armenia was 15.5% in the first quarter of 2024,  while a year earlier for the same period the unemployment rate was  slightly lower - 13.7%. Concurrently, the level of employment in the  country has also decreased dropping from 50.9% in the first quarter  of 2023 to 48.7% for the current reporting period.